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CONSOLIDATED STATEMENTS OF CASH FLOWS - Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities    
Net income $ 3,247 $ 4,306
(Accretion), amortization and depreciation:    
Securities 133 111
Bank premises and equipment 604 610
Core deposit intangible 307 333
Mortgage servicing rights 116 197
Fair value adjustment on loans (988) (1,305)
Fair value adjustment on deposits (72) (258)
(Gains) and losses, including write-downs    
Gains on calls of securities available-for-sale, net (2) (34)
Gains on sales of securities, available-for-sale, net (146) (152)
Gains on sales of loans, excluding capitalized servicing rights (96) (78)
Write-downs of other real estate owned 230
Loss on sale/disposals of premises and equipment 13 45
Provision (benefit) for loan losses 988 (4)
Proceeds from loans sold 2,048 5,146
Loans originated for sale (1,189) (4,800)
Increase in deferred loan origination costs, net (81) (13)
Mortgage servicing rights originated (45) (102)
Increase in mortgage servicing rights impairment reserve 21 3
Decrease in interest receivable 90 42
Deferred tax benefit (26)
Decrease in prepaid expenses 64 116
Increase in cash surrender value of life insurance policies (177) (185)
Decrease (increase) in income tax receivable 414 (91)
Decrease in other assets 234 129
Decrease in accrued expenses (32) (146)
Modification fees on Federal Home Loan Bank advances 116
Amortization of debt issuance costs 12
Decrease in interest payable (32) (8)
Increase in other liabilities 890 103
Stock based compensation - restricted stock awards 93 84
Net cash provided by operating activities 6,530 4,253
Investing Activities    
Purchase of Federal Home Loan Bank of Boston stock (319)
Redemption of Federal Home Loan Bank of Boston stock 59
Purchases of securities available-for-sale (32,536) (4,319)
Proceeds from sales of securities available-for-sale 3,800 3,861
Proceeds from calls of securities available-for-sale 9,661 6,480
Proceeds from maturities of securities available-for-sale 15,320 4,830
Loan originations and principle collections, net (50,488) (3,652)
Recoveries of loans previously charged off 64 477
Proceeds from sales of other real estate owned 605
Capital expenditures (817) (244)
Net cash (used in) provided by investing activities (55,256) 8,038
Financing Activities    
Increase in deposit transaction accounts, net 973 12,284
Decrease in time deposits, net (963) (6,718)
Decrease in securities sold under agreements to repurchase, net (559) (1,392)
Advances from Federal Home Loan Bank of Boston 19,994
Principal payments on Federal Home Loan Bank of Boston advances (6) (780)
Principal payments on note payable (18)
Decrease in capital lease obligation (2) (1)
Stock options exercised 87 126
Issuance of shares for director fees 142 81
Issuance of shares for executives 29
Common stock dividends paid (1,542) (1,525)
Series B preferred stock dividends paid (80)
Net cash provided by financing activities 18,106 2,024
Net (decrease) increase in cash and cash equivalents (30,620) 14,315
Cash and cash equivalents, beginning of period 62,118 36,105
Cash and cash equivalents, end of period 31,498 50,420
Cash paid during year    
Interest 1,977 1,763
Income taxes 782 1,955
Non-cash investing and financing activities    
Transfer from loans to other real estate owned $ 101